Gold appears to be consolidating within a triangle formation on the higher timeframes, presenting a potential trading opportunity. Observing a retracement of approximately 61.8% to the upper boundary of the triangle, coupled with the completion of an ABCD pattern at the triangle's support level, suggests a favourable setup for shorting.
Entry: Sell at market price of 2192
Target: Aim for 2178 as the initial downside objective
Further downside potential may materialise if the triangle's lower boundary is breached and retested as resistance. In such a scenario, a subsequent continuation move to the downside could target 2160.
Entry: Sell at market price of 2192
Target: Aim for 2178 as the initial downside objective
Further downside potential may materialise if the triangle's lower boundary is breached and retested as resistance. In such a scenario, a subsequent continuation move to the downside could target 2160.
Trade stängt: Stopp nått
may add a additional position if I see a strong rejection